By Nicole Verbeeck | Euractiv’s Advocacy Lab Est. 5min 26-03-2024 (updated: 26-03-2024 ) Content-Type: Underwritten Underwritten Produced with financial support from an organization or individual, yet not approved by the underwriter before or after publication. Belgian Prime Minister Alexander De Croo Euractiv is part of the Trust Project >>> Print Email Facebook Twitter LinkedIn WhatsApp Telegram Europe must work to protect its biotech leadership capability, Belgian Prime Minister Alexander De Croo told Euractiv. Amidst fierce competition from the US and China, De Croo’s vision aligns with the European Commission’s ambitions for strengthening the sector, citing the Belgian Health & Biotech Valley as the example to follow. Despite Belgium’s size, its biotech industry is thriving. With ten Belgian biotech companies listed on Euronext Brussels with a market cap of €22.8 billion – accounting for 75% of the sector’s European stock market value – Belgium also boasts over 600 companies in the biotechnology sector and strong research clusters such as imec and VIB. On March 20, the European Commission proposed a series of targeted actions to boost biotechnology and biomanufacturing in Europe. De Croo told Euractiv: “Europe and Belgium are currently at the absolute forefront globally when it comes to biotech. However, this strong position is not guaranteed in the future. The US and China are also fully committed to biotech.” He added: “The new biotech initiative must ensure that we remain the leading force. That’s why we’re focusing on all the aspects that matter: from financing to development and production to maintain the sector’s European presence.” Next step, an action plan On March 20, the European Commission proposed a series of targeted actions to boost biotechnology and biomanufacturing in Europe. “(…) the sector has been asking for some of these reforms and plans for a while,” Chairman of flanders.bio and biotech entrepreneur Dirk Reyn told Euractiv. According to Tineke Van hooland, Deputy Secretary General of bio.be/essenscia, for over a year the Belgian prime minister has been urging the European Commission to boost the European biotech sector. “It is very positive that Europe is now coming up with its own initiative,” she said. Van hooland emphasised the essential need for the next European Commission to swiftly translate proposals into a targeted action plan, “It’s not just about visions and words, but actions,” she emphasised. Bio.be/essenscia, the Belgian federation representing companies active in the biotech and life sciences industry, has been a key advisor regarding this initiative. Reyn adds that it’s a major step forward but also a clear request to keep the sector closely involved in the development and assessment of the different solutions. “This plan can only be successful if one is willing to take some tough decisions and prioritise efforts based upon the inherent strength of biotech ecosystems and not on the size of potential customers or voters, but on the true expertise there is today,” he said. Following Biden’s example Last year in the United States, President Biden injected $2 billion into the US bioeconomy to boost US manufacturing of US inventions. Meanwhile, two years ago De Croo began developing a Health & Biotech Valley strategy to boost the sector in Belgium during the next five to ten years. Belgium is in now in full rollout of the strategy. Some of the priorities include scaling up innovation with anchored production activities in Belgium and Europe to promote both public and private investments, especially for late-stage activities requiring substantial budgets and streamlining regulations and to focus on the education and upskilling of talent with the necessary skills. Develop talent of the future According to bio.be/essenscia, one of the driving forces behind the Health & Biotech Valley strategy, over the next five years, is the need for around 1,500 new workers in the biotech sector each year. Not only is there a potential numerical shortage of employees, but also, the skills for the future pose a challenge. The country is addressing this with three training centres: ViTalent (Flanders), aptaskil (Wallonia), and the EU Biotech Campus (Wallonia). The EU Biotech Campus aims to be operational by 2025, aspiring to become an international training centre shaping the future talents in biotech. Strengthen the financial ecosystem Efforts to strengthen the financial biotech ecosystem, such as consolidating funds and stock markets to create a unified EU biotech-friendly market, offer a promising opportunity to bolster local successes swiftly. However, alongside this consolidation, maintaining a vibrant venture capital (VC) environment is equally critical. Rewarding risk-taking in VC investments is imperative for the growth of the biotech sector. “Suggestions by some Member States to remove these incentives could have detrimental effects, potentially stifling seed and early-stage financing crucial for biotech innovation and development,” warns Reyn. In his view, sustaining a supportive VC environment alongside market consolidation is essential for the continued growth and success of the biotech industry. [By Nicole Verbeek, Edited by Vasiliki Angouridi, Brian Maguire | Euractiv’s Advocacy Lab] Read more with Euractiv Germany legalises cannabis federally but local opposition anticipatedAfter numerous delays, the planned legalisation of cannabis consumption in Germany has passed its last major obstacle – the Bundesrat (Federal Council) and while future growers remain relaxed, they do anticipate further resistance on the local level. Print Email Facebook Twitter LinkedIn WhatsApp Telegram Topics Alexander De Croo Belgium Biotechnology Health Pharmaceutical Market promoted
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